The Long Investor

$GOOG TOP 20

Added 2023-07-30 19:37:06 +0000 UTC

Earnings last week and it was a good positive beat, no surprises and has performed well since, as expected and moving well now higher, for what we believe to be Wave 5.

We can see that the 1.618 Fib held very well for Wave 3 and then we got out pull back.

We added at $116 and enjoying some gains here. I think we need to be cautious now, as this is Wave 5 and approaching the 2 Fib, there is no issue with this going as high as the 2.27 Fib or very extended to the 2.618 Fib which would bring this to the all time high line at $152 but this would be very extended and the pull back will be next.

On the $MSFT chart, we can see that this is exactly what has happened.

It is worth nothing that if this does extend all the way to $152, this would bring this up to the end of the year.....where I am expecting a strong pull back then.